The Study of Investing in SMEs by Women in Sri Lanka

Abstract

In Sri Lanka, many women are running successful small businesses and some of them are very successful with entrepreneurial skills. Now they have a chance to participate in a cash economy being able to send children to school, to pay utility bills and, importantly, to feel better that they have control over their lives instead of occupying in a full time job locally or abroad. This has also created a social effect. Women in business are not only able to take care of financial position of the family but also they have quicker access to family due on any reason than a working woman. However, it has not been observed how effectively women run businesses to contribute to their family and to the economy of the country. It is common that the effective management of a small business will lead to expand the business into medium and large scale in future. This study basically aims at the progress of women in small business and how effectively they run the business towards goals in future expansion. The research method chosen and best suited to this study is descriptive quantitative research. The proposed method for data collection is close-ended questionnaire to maintain accurate accounts of information given. The researcher has used 50 registered women in small business that fitted with the outlined criteria chosen through simple random sampling. The researcher concludes the study by observing the importance of creating awareness of the need for women to invest in small businesses and financial institution to introduce new financial mechanisms to develop women in businesses.